Buying Your First Home

Where to Get Started with Lending Starz?

Whether a new home is a few years off or you’re shopping now, we can help you understand your options and get the right mortgage for your situation.

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How It Works

Our Home Buyer’s Guide takes the mystery out of getting your first home loan. We break down the process so it’s less overwhelming and easier to understand.

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Putting Together a Budget

Our calculators help you estimate what you can afford, how much of a down payment you’ll need, what your monthly payment could be, and how much interest you’ll pay over the life of a loan.

• Calculate How Much I Can Afford

• Calculate My Mortgage Payments
   

Actively Shopping for a New Home

If a move is in your near future, these are the two most important things you should do first. They’ll put you in the hands of experts who help people like you become a homeowner for the first time every day.

First, get approved for a loan. Doing this before looking at houses helps you a lot. Here are some of the benefits:

• You’ll get an approval letter that shows real estate agents and sellers you’re able to afford a house.

• You’ll find out how much house you can afford.

• It makes the rest of the mortgage process smoother and easier.
   

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Next, find a real estate agent. After you apply and get approved, choose a real estate agent. They’re another great source of experience and knowledge when it comes to how to buy a home. You can expect your agent to do these things:

• Help you find the right house in the right place at the right price.

• Manage paperwork.

• Negotiate with sellers.

With an approval letter and listings from your agent, you’ll be ready to start hitting those open houses.

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Popular Loans Options for First-Time Home Buyers

Here are some common situations that often apply to people getting their first home loan, and possible options. You may qualify for more than one; we’ll help you find what’s best for you.

 

• Want payment and interest rate stability? With a 30-Year Fixed, your interest rate and monthly payments (before taxes and insurance) won’t change, and you can buy a home with as little as 3% down.

• Don’t have a lot of credit history, or worried it’s not good enough? FHA loans have more lenient credit and income requirements, and your down payment can be as low as 3.5%.

• Think you’ll only be in a starter home for a few years? An adjustable rate mortgage gives you a low fixed interest rate – which means lower monthly payments – for the first few years of your mortgage.

• Are you a veteran or currently serving? You may qualify for a VA Loan and be able to buy a home with zero down.